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'Pay as you go' health insurance set to hit the market

The plan will give people the ability to upgrade their hospital care at the time of need.

Image: medical via shutterstock

THE HEALTH INSURANCE market is set for a major shake up next month with the introduction of a new ‘pay as you go’ style health insurance packages.

The new ‘Activate’ range of plans being offered by GloHealth gives customers the ability to upgrade their health insurance at a time of their choosing.

Customers will be allowed to upgrade from the more basic care packages, to the more comprehensive ones. Users of the service will be allowed to pay for more extensive cover as and when they need it.

The new service also claims to eradicate the traditional two-year waiting period for an upgrade traditionally required for a person with a pre-existing medical condition.

Speaking about the new service, GloHealth Chief Executive Jim Dowdall said:

Since our launch, GloHealth has provided our customers with innovative health cover which they can tailor to their needs. Our new Activate range takes this to a new level.  

The ‘Activate’ range includes four different packages and the most basic one claims to allow customers to access scans, tests, a 24-hour nurse line and hospital treatment for a basic rate of €395 annually.

The ‘Activate More Hospital’ plan is at the high end of the scale and would see customers paying out €1,267.75 a year. For this, customers are given access to a range of private and public hospital treatments.

However, the new services does not provide an open door to people with pre-existing medical conditions who have not held health cover before. For this there will still be a five-year waiting period.

The new package may appeal to the under-35s, who are facing pressure to take up health insurance earlier. A new system being introduced next May will put 2% onto policies for over-35s each year they fail to take up health insurance.

Read: Over-35s to face penalty on first-time health insurance policies

Also: Irish people switch car insurance provider more than any other service

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